Global retirement benefits
Where companies have global employees, even where many are employed locally, there is an increasing need for an international/ global benefits strategy to streamline benefits and cost and to provide best practice retirement benefits.

Our experience with cross-border pension arrangements and international employee benefits creates robust and scalable UK solutions for the international arena.

Many of our UK defined contribution (DC) pension clients, are part of international groups or are expanding overseas. They benefit from our ability to look at global retirement benefits coordination and to deliver best practice solutions for the integration of mobile and permanent overseas employees.
 

 Overview

 
International solutions include:
  • IPPs (Individual Pension Plans);
  • 615 schemes (Section 615 International Retirement Benefit Scheme);
  • SEPCAV (Sociétes d'épargne-pension à capital variable);
  • ASSEP (Association d’épargne-pension); and
  • other Institutions for Occupational Retirement Provision (IORP) vehicles.

Our approach

We work with employers to:

  • understand the global retirement benefits needs of their employees
  • design and set up an appropriate administrative structure for their pension scheme
  • use best practice guidelines when implementing and integrating pension schemes for a cross-border workforce
  • draft clear, comprehensive investment policy statements
  • select suitable individual investment options and design customised investment strategies
  • develop and maintain an in-depth and well-defined governance framework
  • provide relevant information to employees and plan members

We start by reviewing the international employee landscape, assessing the specific needs of our client and reviewing their existing retirement benefits arrangements both globally and locally. We then provide strategic advice on the most appropriate global strategy going forward. This includes work on pension scheme structure and design, implementation advice on matters related to trustees and custodians, investment options and strategies, initial and ongoing governance and education and training.

We provide specialist investment advice on the selection of global platforms, asset pooling vehicles and international asset management and investment strategies. We can also offer global administration and platform solutions, member help lines, and international private client advice to members.
 
 

 Insights and views

 
    PSDCC Pensions Bulletin - February 2012
    20 February 2012
    In this issue
     
    • Clearing of the in-trays
    • Clearing of the in-trays: speed read
    • QROPS
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     
    Download a copy
    Read more
    Pensions Bulletin - January 2012
    10 January 2012
    In this issue
     
    • Clearing of the in-trays
    • Clearing of the in-trays: speed read
    • Behind the scenes
    • Other recent developments
    • Publications round-up
    • Dates for your diary

    Download a copy
    Read more
    Will the ‘holistic balance sheet’ prove to be Solvency II by the back door?
    23 November 2011
    On 25 October 2011, the European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on its draft advice to the European Commission (EC) to help the EC’s review of the Institutions for Occupational Retirement Provision (IORP) directive. This review could have very significant implications for the funding of UK defined benefit (DB) pension schemes if it results in a funding regime similar to the Solvency II directive regime for insurers.

    View the briefing note
    Read more
    Pensions bulletin - October 2011
    13 October 2011
    In this issue
     
    • Back to work for the Pensions Minister
    • Back to work: speed read
    • Behind the scenes
    • Other recent developments
    • Publications round-up
    • Dates for your diary
     
    Download a copy
    Read more
    Pensions bulletin - July 2011
    1 July 2011
    In this issue:
     
    • Policy focus: one year on from the Coalition’s first Budget
    •  Policy focus: speed read
    •  Behind the scenes
    •  Other recent developments
    •  Publications round-up
    •  Dates for your diary
     
    Download a copy 
     
    Read more
    EC calls for advice on review of IORP directive
    27 May 2011
    In April 2011, the European Commission (EC) issued a Call for Advice from the European Insurance and Occupational Pensions Authority (EIOPA) to prepare for the Commission’s planned review of the Institutions for Occupational Retirement Provision (IORP) directive.
     
    View the briefing note
    Read more
    Test-Achats: are the days now numbered for sex-specific actuarial factors?
    1 April 2011
    On 1 March 2011, the European Court of Justice (ECJ) passed judgment on the Test-Achats case. This case was widely reported in the press for its impact on insurance premiums which will need to be equal for men and women from 21 December 2012. Although it concerned insurance contracts, the case could also potentially affect UK occupational pension schemes.
     
    View the briefing note

     

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    Visit the Industry Insights page for news and views on the latest industry developments
 

 Events

 
    Speak to us
    Speak direct to our specialists in this area
    Julia Whittle
    Head of International, London
    Email Julia
    Or call us on
    020 7839 8600